12/05/2005

"Starting a successful company involves solving a critical problem for a targeted group of customers. To be able to do that, you have to understand the customer extremely well, and be an expert in their interests, needs and problems.

It's not a coincidence that a lot of successful companies are formed by a few individuals that leave a parent company to start a similar company to meet the needs of their sector. They have worked in the space for a few years, understand the needs very well and create a solution that meets those needs. No amount of market research or interviews will give you that level of understanding, so they have an inherent advantage against competitors...

So, if you're starting a company, find a problem in the fields you are familiar with and focus on that. You'll have a much higher probability of success and likely find yourself with some unfair advantages that you can use..."

About Me

I am a business lawyer, deal attorney and professor. I received my B.A. in Economics from Princeton University and my J.D. from the University of Pittsburgh. I am an adjunct faculty member of Chatham University and Alfred University. I help people buy and sell businesses, negotiate and close commercial transactions and take advantage of business opportunities. I focus my practice on mergers and acquisitions, technology commercialization, venture capital, software and intellectual property licensing and other commercial and financial transactions.